The electric car market bucked the downturn in global auto sales in 2020 with growth of 41% and is on track for a “decade of strong expansion”.

But the findings, revealed in a new report by the International Energy Agency, say that critical progress is needed to ensure EVs attain their full potential to mitigate carbon emissions.

The IEA’s Global Electric Vehicle Outlook 2021 finds that despite a series of pandemic-induced economic recessions, a record three million new electric cars were registered in 2020; a 41% increase from the previous year. By comparison, the global automobile market contracted 16% in 2020.

And in the first quarter of 2021, EV sales reached nearly two and half times their level in the same period a year earlier.

Governments helped EVs mitigate the downturn by extending existing policy and fiscal support, and augmenting them with stimulus measures in response to the Covid-19 crisis.

Last year’s increase brought the number of electric cars on the world’s roads to more than 10 million, with another roughly one million electric vans, heavy trucks and buses.

And for the first time last year, Europe overtook China as the centre of the global electric car market. Electric car registrations in Europe more than doubled to 1.4 million, while in China they increased 9% to 1.2 million.

Based on current trends and policies, the IEA projects the number of electric cars, vans, heavy trucks and buses on the road worldwide to reach 145 million by 2030.

But it says the global fleet could reach 230 million if governments accelerate efforts to reach international climate and energy goals, as outlined in the IEA’s Sustainable Development Scenario.

The report outlines that in order for electric vehicles to attain their full potential to mitigate carbon emissions, critical progress is required to decarbonise electricity generation, to integrate electric vehicles in power systems, to build charging infrastructure and to advance sustainable battery manufacturing and their recycling.

“Electric vehicles have an indispensable role to play in reaching net-zero emissions worldwide,’” said Fatih Birol, executive director of the IEA. “Current sales trends are very encouraging, but our shared climate and energy goals call for even faster market uptake. Governments should now be doing the essential groundwork to accelerate the adoption of electric vehicles by using economic recovery packages to invest in battery manufacturing and the development of widespread and reliable charging infrastructure.”

The IEA added that while electric vehicles have a key role to play in tackling emissions, policymakers should think about global clean energy transitions holistically across sectors to ensure that progress in one area is not being undermined by shortcomings in another.

Read more: fleetworld

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The government has a “mountain to climb” to reach its goals of phasing out new petrol and diesel cars by 2030 and for all new cars to be zero-emission by 2035.

This is according to the Public Accounts Committee (PAC), which in a new report released today (19 May) criticised the government for lacking a plan to achieve these targets and tackle the consequences of an all-electric car society, including the impact on the future power needs, the impact on the skills and capabilities required to support the changeover and the impact on the government tax-take due to the loss of fuel duties.

While much of the report focused on how to increase uptake among consumers, the PAC also detailed recommendations into charging infrastructure, stating it isn’t convinced that the government has “sufficiently thought through” how this will expand at the pace required to meet the targets.

The Department for Transport (DfT) has made assumptions about the types of journeys people will make and how they charge their car, but not estimated the number of chargepoints required across the country to keep up with the increase in electric vehicles (EVs).

Therefore, the DfT should set out as part of its plan for increasing EV uptake how it intends to address the remaining barriers to expanding the network, for example the availability of chargers where drivers do not have off-street parking.

Having spoke to the DfT for this report, the PAC said the department sees government’s role in developing EV charging infrastructure as spotting market failures and unblocking problems. The DfT said there is to be a shift in focus from funding for home charging to on-street and other publicly available local charging.

The government has doubled investment for the current year for the on-street residential charge scheme, and is to double it to £20 million for the next year too.

However, the National Audit Office has reported that the take-up of funding for local authorities to support on-street residential chargepoints has previously been low, with almost a third of the allocation funding of £8.5 million not used.

In 2018, it was revealed that only five councils across the UK had taken advantage the scheme, prompting ministers to write to local authorities calling for more action and the Local Government Association to respond by claiming cash strapped councils should not be responsible for “replacing petrol stations”.

Then in 2019, transport secretary Grant Shapps penned a separate letter to local authorities calling on them to take better advantage of government grants for deploying EV charging infrastructure.

Alongside the additional work needed on on-street charging, both the DfT and the Department for Business, Energy and Industrial Strategy (BEIS) also need to work with other departments to consider the practical implications of the transition to zero-emission cars, the PAC said.

In particular, they should set out how they are going to manage the wider societal impacts such as the impact on power generation and transmission and retraining the workforce.

Investments will need to be made in the transmission and distribution networks to ensure they can cope with the additional demand from EVs alongside other demand sources, the PAC said, with BEIS estimating that electricity demand will double by 2050 and that the need for network investment will translate to a 2% increase in energy bills by 2030.

Already the UK distribution network operators (DNOs) are gearing up for the increased demand, with UK Power Networks expecting a 3,000% growth in EVs in its areas by 2030 and Scottish and Southern Electricity Networks expecting EVs to increase to over 5 million by 2050 in its areas.

Likewise, Electricity North West is expecting over 3 million EVs in its region by 2050, detailing its plans to support the increased uptake in February.

The PAC also examined the difference in costs between public charging and home charging, citing National Audit Office analysis of public data which suggested that charging at home can cost between 59% and 78% less than charging on the public network. The DfT said that it expects there to be more competition in the market and innovation that could benefit customers in terms of the price paid for electricity, but that it expects rapid charging in public to always be more expensive than charging overnight at home.

Additionally, the PAC asked both the DfT and BEIS about their strategy to avoid ‘not spots’ – areas where the market doesn’t deliver because uptake is insufficient. The DfT responded that the majority of EV owners will charge at home overnight and start their journeys with 100% charge. However, the PAC said that data from the English Housing Survey shows that 33% of households in England don’t have access to off-street parking, with this increasing to 68% for those living in social housing.

Lastly, the PAC asked how the DfT will ensure that charging infrastructure expands in line with its plans for a rapid expansion in EV uptake ahead of 2030, with the department stating it has not set targets for the number and type of charging infrastructure required to support the zero-emission vehicle transition because it expects private investment to drive this.

Meg Hiller, chair of the PAC, said that “once again what we’ve got is a government throwing up a few signs around base camp” while there’s no drop in demand for internal combustion engine vehicles.

“This isn’t about more targets with no plan behind them inevitably getting missed – it’s about averting the real-world challenges that are bearing down on all of us,” Hiller added.

Read more: CURRENT

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SSE, one of the UK’s leading utility providers, has identified the Renault Zoe Van as being the ideal vehicle to help with the electrification of its commercial vehicle fleet and contribute to the company’s commitment to have ‘net zero’ carbon emissions by 2050 at the latest.

SSE has introduced four Zoes into its commercial vehicle fleet after the UK’s only fully electric car-derived van was recognised as the perfect replacement for several ICE vehicles where the range of existing commercial-focused EVs had previously compromised the transition to pure electric power. The company is set to take delivery of a further eight with more in the pipeline.

SSE’s new Zoe Van’s will be used by its supervisors and team leaders to visit the company’s operational sites and developments throughout Scotland. The award-winning Zoe Van has a range of up to 245 miles on a single charge enables SSE’s personnel to visit more remote areas, particular in the north west of the country, where the charging infrastructure can be limited, while enjoying the refinements and drive associated with the Zoe E-tech 100 percent electric passenger car upon which it is based. At the same time, the dedicated load area allows operatives to easily and cleanly transport the specialised tools, wet weather clothing and PPE they require for their roles.

As well as enabling SSE to continue its drive to have 3,500 of its 4,000 commercial vehicles fully electrified by 2030, the Zoe Van will help the company to lower its environmental impact in terms of both emissions and noise. Notably, SSE estimates that over a five-year period each Zoe Van will provide a saving of 23.5 tonnes of CO2.

In addition to the driving range of the Zoe Van, SSE’s decision was influenced by its Whole Life Costs being lower than those of a similar-sized petrol car-derived van, offering significant savings in terms of fuel, VED and servicing costs. The spread and support of the Renault dealer network, plus the standard eight-year battery warranty, further enhanced the appeal of the Zoe Van to SSE, while its flexible charging means SSE’s personnel will be able to charge their vehicles at home without issue.

The Zoe vans were converted to SSE’s specification by Renault-accredited converter, Qi, which added details including a hygiene station and fire extinguisher. All were specified in Business trim, which includes such standard features as full LED headlights, automatic air conditioning, heated electrically adjustable door mirrors, cruise control/speed limiter, EASY LINK radio with 7-inch touch screen and Smartphone integration with Android AutoTM and Apple CarPlayTM. Completing the new Zoe Van is a unique wrap by Mediafleet, which haloes their pure electric power and even glows in the dark to ensure that SSE’s commitment to electrifying its commercial fleet can be seen day and night!

“As an EV100 company that is committed to switching its fleet to electric, and with our focus on renewable energy and making a significant contribution to building low-carbon electricity systems fit for the future, introducing the Zoe Van to our operations fits perfectly with our strategy and ethos” said Neil Chamberlain, National EV Manager, SSE. “The range of electric LCVs has always been a bit of an issue in the past for the roles that these vehicles are used for, so that of the Zoe Van now gives us the option to make the transition and look at other areas where a van is traditionally used but there isn’t a need for a high payload. The comfort is a big benefit to our operatives and, for those that are negotiating the narrower, more demanding roads of the Highlands, the compact dimensions are another welcome bonus. With the Zoe Van we’re further lowering our environmental impact at no detriment to our operational costs or effectiveness.”

The Zoe Van is based on the multi award-winning Zoe electric passenger car, which won the ‘Best Small Electric Car’ category in the 2020 What Car? Awards and which has been honoured at the annual What Car? ceremony for the last seven years. The commercial version is already an award-winner, having recently won the compact van ‘Best Value for Ownership Costs’ category in the new What Car? Van Awards.

Combining the same advanced specification of the Zoe with a load volume of one cubic metre and a maximum payload of up to 457kg excluding the driver (Business specification), the Zoe Van is available in two generous trim levels – Business and Business+.

It offers a WLTP combined range of up to 245 miles on a single charge on Business models and via the 50kW DC charging option can be charged from zero to 80 per cent in just one hour and ten minutes. Its R110 motor delivers zero to 31mph acceleration in only 3.9 seconds – making the Zoe Van electric ideal for urban journeys with stop-start traffic, and a perfect fit for tasks such as multidrop deliveries, and for use by utility companies and local authorities, for example. All of which are completed with zero tailpipe emissions.

As it’s based on the regular Zoe, the Zoe Van benefits from a five-year, 100,000-mile warranty, mirroring the rest of Renault’s car range. The first two years feature unlimited mileage restrictions, while the remaining three have a 100,000-mile limit. In addition, the E-Tech electric 50 battery receives an eight-year, 100,000-mile warranty.

Read more: RENEWABLE ENERGY MAGAZINE

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The Government is warning that it is “unlikely” it will be able to give advance notice of any future cuts to the plug-in car and van grant.

A reduction in the grant for the purchase of electric vehicles (EVs) was announced without any notice in March.

The electric car grant was reduced from £3,000 to £2,500 and excluded models that cost more than £35,000 with immediate effect.

The fleet and leasing industry was critical of not having been given prior notice of the reduction, with some customers missing out because they were part way through the order process.

However, representatives from the Office for Zero Emission Vehicles (OZEV), part of the Department for Transport (DfT) which administers the grant, confirmed they are “unlikely to be able to provide additional notice” given the need to manage the grant budget “on behalf of taxpayers and future grant applicants”.

Attending a meeting organised by the National Franchised Dealers Association (NFDA) to provide retailers with clarity around the grant following recent cuts, OZEV said that going forward, the Government intends to “gradually deliver a managed exit” from the grants (which have been extended until 2022/23) although uptake will continue to be supported through other measures.

OZEV added that the relatively low levels of demand when the grant was first introduced meant they were able to give advance notice of rate changes.

However, when the market was given advance notice of a reduction in the grant in 2018, the news sparked a rush from buyers eager to qualify for the grant at the higher level.

It reported that grant-eligible vehicles were sold at a rate that was more than six times higher than normal, causing officials to bring the original date forward.

When a further cut was announced in the plug-in car grant last year, the industry was just given a few hours’ notice.

OZEV also highlighted they are “unlikely” to offer leeway for grant changes similar to the 28-day, which was offered following the most recent changes.

This allowed dealers and manufacturers to claim at previous rates and eligibility criteria for any orders that were placed by customers in the 28 days before the grant rate change which were not logged on the portal.

Sue Robinson, NFDA chief executive, says that the meeting with OZEV officials was “extremely useful” in providing retailers with further clarity around the plug-in grant, including details on the definition of price cap which not all dealers are aware of.

“Going forward, we will continue to work closely with OZEV to best represent our members’ interests and, in turn, provide franchised dealers with clear and timely guidance,” she said.

The price cap definition to qualify for the plug-in grant says cars must be priced below £35,000 RRP.

In particular, the price cap definition includes “any non-standard option fitted by the manufacturer or dealer affecting the capacity of the battery, drive train configuration or maximum net power”; and it does not include “any non-standard option fitted by the manufacturer or dealer which does not affect the capacity of the battery, drivetrain configuration or maximum net power”.

In response to the new £35,000 qualifying threshold, carmakers have been rushing to adjust electric vehicle (EV) prices, so they remain eligible for the plug-in car grant (PiCG).

Nissan, Vauxhall, Peugeot, BMW and Hyundai, which had electric cars priced just above the new £35,000 threshold, reduced vehicle costs to remain eligible for the grant.

Meanwhile, Volkswagen has expanded the ID4 range, with a new entry-level City model priced below the qualifying threshold.

Read more: FleetNews

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We take an in-depth look at how the UK is getting ready for the switch to electric

The UK car industry has weathered several storms in recent years, with Brexit uncertainty causing significant difficulties, and Covid-19 closing dealerships and factories. But with a free-trade agreement with the EU now in place for cars, and the UK’s vaccine rollout well under way, things – while some way off being ‘normal’ – are more optimistic than they have been in recent times.

The future brings more challenges, though. The Government’s confirmation in November last year that sales of new cars without significant electrification would be banned in 2030, before new internal-combustion-engined vehicles are outlawed entirely in 2035, sets a high bar for the automotive industry, not to mention car buyers.

While we have a Brexit deal that’s largely favourable to the automotive industry, strict rules-of-origin legislation means that by 2027, at least 55 per cent of an electric car must be built in the UK or EU in order for the vehicle to remain exempt from import or export tariffs. Given that batteries and motors tend to comprise a huge proportion of an EV’s value, and these components are typically made outside the UK and EU, the race is on for car makers to produce batteries and motors here and on the continent.

Such challenges present enormous opportunities, and there’s a growing sense that the UK is well positioned to hit its ambitious 2030 and 2035 targets for EV adoption, and capitalise on EU-UK trade conditions that will compel us to build our own EV tech. These targets and quotes will require sea changes both from the industry and consumers, though, so here we ask the simple question: how prepared is the UK for the EV revolution?

Small distances, big market
The UK is a small country. It only takes around two and a half hours to drive the width of England from Liverpool to Hull, or 14 and a half hours to get from Land’s End in Cornwall, to John O’Groats in Scotland.

By comparison, driving across the entire US from New York to San Francisco would involve a minimum of 43 hours on the road without stops, while crossing the breadth of Texas alone is a 12-hour endeavour.

Perhaps unsurprisingly, therefore, drivers in the UK tend to cover lower mileages than those in other countries, with the average Brit covering just 7,400 miles a year. With charge times for EVs significantly longer than filling the tank of an equivalent petrol or diesel vehicle, this means the inconvenience of topping up a car’s batteries needs to happen far less frequently here than it would in the US, for example.

The UK’s small land mass also means that it’s far less work to implement a comprehensive nationwide public charging infrastructure – a key requirement for those who regularly cover distances longer than an EV’s range – than it would be in Russia, for example. When you add in the fact that the average length of each car journey is around 8.5 miles in the UK, plus consider ‘destination chargers’ are becoming increasingly common at supermarkets, hotels, gyms and elsewhere, it’s clear that frequent top-ups, rather than big weekly charges, are likely to be the norm for many, especially those without driveways and garages. One analogy many use, for example, is that charging an EV should be approached more like topping up a smartphone battery – something that’s much easier if you have multiple chargers dotted about your house.

On top of this, we need to consider how keen us Brits tend to be on getting a fresh set of wheels. The UK market is second only to Germany’s for new cars in Europe, so our ability to get EVs on the road is significant, and ably shown by the fact that plug-in cars (EVs and PHEVs) outsold diesel models in January 2021. So while there are around 31 million cars in the UK, our fondness for buying new ones should stand us in good stead for making the eventual switch to electric faster than some nations.

Mike Hawes, chief executive of the Society of Motor Manufacturers and Traders (SMMT), believes the UK “undoubtedly” has advantages in the transition to electric vehicles in these regards. He told us: “UK consumers are often quick to embrace new technologies, we travel fewer miles on average than some other countries and we are a relatively affluent market.”

Rachel Maclean MP, under secretary of state for transport, echoed these sentiments, praising the UK’s “big market” and the fact Brits are “very keen to buy cleaner cars”.

“In 2019, we were the third-largest market in Europe for ultra-low-emission vehicles behind Norway and Germany,” Maclean added. “and that number is going up all the time.”

However small our country may be, and however keen Brits are on new cars, the uptake of EVs goes hand-in-hand with the growth of reliable, affordable and convenient chargepoints. The SMMT’s Mike Hawes said the Government’s commitment to improving rapid charging facilities was “a welcome step”, but argued that “if motorists are to be confident that recharging is as easy as refuelling, significant investment will be necessary.” He added: “In particular, EV drivers need to see a massive increase in public on-street charging, because not every driver has designated off-street parking.”

Read more: AUTO EXPRESS

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Just as motorists are being urged to switch to eco-friendly electric vehicles, ministers have cut the plug-in car grant designed to make them more affordable – and it could be part of a long-term plan to rescind EV incentives entirely

Four in five motorists think electric cars are still too expensive for them to purchase.

That’s according to a comprehensive survey of more than 15,500 drivers conducted by the AA last month.

The damning verdict comes in the wake of the Government’s recent decision to slash grants designed to make these battery-powered vehicles more affordable.

In March, transport ministers announced that the Plug-in Car Grant – an incentive launched a decade ago to subsidise the cost of pricey electric models – has been cut to just £2,500, trimming the value of the scheme by £500.

But more importantly, ministers also moved the goalposts for eligibility. Previously available to buyers of new electric cars with a value of up to £50,000, only models with an on-the-road price below £35,000 now qualify for the scheme.

It means cars from premium brands like Tesla, Audi and BMW are now further out of reach for the 81 per cent of drivers who told the AA they already couldn’t afford them, but also restricts the scheme to – in many cases – EVs that use older technology, meaning longer charge times and shorter ranges.

Ford of Britain chairman Graham Hoare said the decision – which means the brand’s new Mach-E electric SUV isn’t eligible for the grant – was ‘disappointing’ and ‘not conducive to supporting the zero emissions future we all desire’.

RAC head of roads policy, Nicholas Lyes, had an equally scathing assessment of the Government’s actions, saying ministers like to ‘talk-the-talk when it comes to encouraging people into cleaner vehicles, but cutting the grant certainly isn’t walking the walk’.

Mike Hawes, chief executive at the Society of Motor Manufacturers and Traders, described the decision as the ‘wrong move at the wrong time’.

‘New battery electric technology is more expensive than conventional engines and incentives are essential in making these vehicles affordable to the customer. Cutting the grant and eligibility moves the UK even further behind other markets, markets which are increasing their support, making it yet more difficult for the UK to get sufficient supply,’ he added.

Norway is proof that EV incentives can dramatically accelerate the switch to greener cars
The UK Government’s decision is contrary to benefit-driven strategies in other countries that have seen electric car sales surge in recent years.

For example, Norway’s EV-buying incentives include exemptions from all non-recurring vehicle fees, waiving purchase taxes and VAT of 25 per cent, bringing price parity with conventional motors with internal combustion engines.

And such generous schemes have a proven impact on demand, with 54 per cent of all cars registered in Norway in 2020 being electric models.

In contrast, with battery electric vehicles accounting for just 6.6 per cent of all UK registrations in the same year, minsters have already set out plans to scale back existing tax-payer funded offers.

The 2018 Road to Zero strategy – in which government first earmarked a deadline for a ban on sales of new petrol and diesel cars (at the time set at 2040 before being fast-tracked by a decade to 2030 by Boris Johnson) – outlined the intention to wind up incentives as EVs became more mainstream.

The report stated that MPs ‘expect to deliver a managed exit from grants in due course’, promising to support the uptake of ultra-low-emission vehicles ‘through other measures’.

Read more: inews

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Research finds electric cars DON’T have to cost more to insure than conventional cousins

‘Green’ cars outsold diesels for the first time in 2020 with 285,199 models with a degree of electric propulsion (BEV, PHEV and HEV) being registered in 2020 compared to 261,772 diesel engine cars.

Although new car sales in 2020 were around 29% lower than in 2019, electric vehicles have grown in popularity. Market share for all-electric BEV cars grew from 1.6% in 2019 to 6.6% in 2020, an increase of over 400%. Although sales numbers are small compared to petrol engine cars, demand for electric vehicles is growing rapidly.

With car insurance being one of the factors contributing to a car’s overall running cost, GoCompare Car Insurance examined the difference in insurance premiums quoted for an electric vehicle compared to its diesel engine equivalent.

When comparing premiums offered for a Volkswagen e-Golf, the average annual premium offered was £635.92. The most expensive being £787.54 and the cheapest being £495.10 – a difference of £292.44 a year.

When comparing premiums for a Volkswagen 1.6 TDI the average annual premium was £533.16. The most expensive being £659.68 and the cheapest being £459.84 – a difference of just £73.32 a year.

However, when comparing premiums for the Peugeot e-2008 and the Peugeot 2008 1.5 diesel, premiums for the electric model averaged £605.30 a year, £85.27 a year less than the £690.57 average annual premium quoted for the diesel variant.

Clearly not all electric cars are more expensive to insure than their traditionally powered equivalents.

The advice from GoCompare experts is that drivers switching to electric or hybrid vehicles must compare car insurance premiums carefully as some insurers are far more competitively priced than others. The most competitive insurer for a diesel car may not be the most competitive for the electric version, and vice versa.

Lee Griffin, CEO and founder of GoCompare Car Insurance commented, “The popularity of electric vehicles is growing quickly as all the major manufacturers rush to meet demand with electric variants of existing models and completely new electric cars such as VW’s ID.3 and ID.4. However, like all types of cars some insurers are keener to cover them than others and will quote premiums accordingly. EV drivers must shop around for the best deals as a competitive insurer for their old diesel car may be well off the pace when it quotes for a new EV.

“Some people may also be surprised to learn that electric cars aren’t always more expensive to insure and I think we’ll continue to see prices even out between electric and diesel/petrol vehicles. Insurers still have limited experience of the risk profile of EVs and this will develop as more of them come on to UK roads. For now though, drivers must compare premiums from different insurers carefully to ensure they get the right insurance at the best price and make the most of the savings electric driving can deliver.”

Read more: GoCompare

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The global electric vehicle market grew substantially in 2020, despite the impact of the coronavirus pandemic on the automotive industry.

According to the International Energy Agency (IEA), a record three million EVs were registered worldwide last year, a 41 percent increase versus 2019. By comparison, the global car market contracted by 16 percent in 2020.

Electric cars’ strong momentum has continued into this year, with sales in the first quarter of 2021 reaching nearly two and half times their level a year earlier, said the IEA.

In total, more than 10 million electric cars are now on the world’s roads. That’s in addition to one million electric vans, trucks and buses.

Europe overtakes China for first time
For the first time last year, Europe overtook China as the centre of the global electric car market. EV registrations in Europe more than doubled to 1.4 million during the year, while in China they increased by nine percent to 1.2 million.

The IEA says that, based on the current trajectory, the number of electric cars, vans, heavy trucks and buses on the road worldwide could reach 145 million by 2030. However, the global fleet could reach 230 million if governments ‘accelerate efforts to reach international climate and energy goals’.

“While they can’t do the job alone, electric vehicles have an indispensable role to play in reaching net-zero emissions worldwide,” said Fatih Birol, executive director of the IEA.

“Current sales trends are very encouraging, but our shared climate and energy goals call for even faster market uptake. Governments should now be doing the essential groundwork to accelerate the adoption of electric vehicles by using economic recovery packages to invest in battery manufacturing and the development of widespread and reliable charging infrastructure.”

Read more: msn

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Even though the Covid-19 pandemic hit the global automobile industry hard, causing it to contract 16%, electric vehicle sales grew strongly over the past year.

The findings come from a report by the International Energy Agency (IEA) which states that the number of electric cars, vans, trucks and buses on roads is forecast to grow from 11 million this year to 145 million by the end of the decade. If governments accelerate efforts to reach climate goals, that figure could grow to as high as 230 million by 2030.

The IEA found that a record three million electric cars were registered across the world last year, 41% higher than in 2019. That trend has remained resolute into 2021 with 2.5 times as many registrations recorded in the first quarter of the year as during the same period last year. That has been driven by strong sales in Europe and China of approximately 450,000 and 500,000 vehicles, respectively. The U.S. has also seen its sales double compared to the first quarter of 2020.

Consumers spent $120 billion on electric car purchases last year with governments providing $14 billion in subsidies to support sales, up 25% from 2019, primarily due to strong incentives in Europe. Those incentives have made a difference and 2020 was especially notable for the electric vehicle industry in that it saw Europe overtake China to become the world’s largest EV market for the first time.

The surging EV market is expected to wipe out demand for millions of barrels of oil. By 2030, existing policies could result in some two million barrels of petrol and diesel fewer per day with the equivalent of up to 120 million tonnes of carbon dioxide saved. If governments raise their goals in line with global climate targets, 3.5 million barrels per day could be removed from circulation with carbon savings nearly doubling.

Read more: Forbes

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